Incoterms 2010

Incoterms, International commerce terms - are international rules for the interpretation of the most widely used trade terms in the field of foreign trade. International trade terms are standard terms of the contract of international sale, which are defined in advance in an internationally recognized document. These conditions govern the moment of transfer of ownership of the goods (and, accordingly, the responsibility for the goods damaged in transit, improper execution of documents for cargo, etc.).

The latest edition of the document was called INCOTERMS 2010, published by the International Chamber of Commerce. Thus, it is possible to avoid, or at least significantly reduce, the uncertainty of the different interpretations of such terms in different countries.

Below is the interpretation of the terms of incoterms by the specialists in Ved (foreign economic activity) of the company, based on many years of experience in organizing foreign economic deliveries:

Group E - Departure place:

• EXW. Ex Works (indicated location): goods from the seller's warehouse.

Group F - Basic Carriage Unpaid:

• FCA. Free Carrier (specified location): the goods are delivered to the carrier of the customer.
• FAS. Free Alongside Ship (the loading port is indicated): the goods are delivered to the ship of the customer.
• FOB. Free On Board (the loading port is indicated): the goods are loaded onto the ship of the customer.

Group C - Basic Carriage Paid:

• CFR. Cost and Freight (the port of destination is indicated): the goods are delivered to the customer's port (without unloading).
• CIF. Cost, Insurance and Freight (the port of destination is indicated): the goods are insured and delivered to the customer's port (without unloading).
• CPT. Carriage Paid To (indicated destination): the goods are delivered to the carrier of the customer at the specified destination.
• CIP. Carriage and Insurance Paid to (indicated destination): the goods are insured and delivered to the carrier of the customer at the specified destination.

Group D - Delivery (Arrival):

• DAT. Delivered At Terminal (indicated location) - the delivery of goods is carried out in the specified terminal.
• DAP. Delivered At Point (indicated destination) - the delivery is carried out at the indicated point.
• DDP. Delivered Duty Paid (indicated destination) - the goods are delivered to the customer, cleared of duties and risks.